User Name: Password:      Register - Lost password?

Forex News Blog
Back to The Headlines
Thursday October 8, 2009 - 10:30:10 GMT
Reuters - www.reuters.com

Share This Story:
| | Email

FOREX NEWS-Dollar slides as Aussie surges; ECB, BoE up next

Thu Oct 8, 2009 6:19am EDT

* Dollar slides, led by Aussie rally on jobs data

* Risk appetite picks up after upbeat Alcoa earnings

* Eyes on ECB, BoE meetings; euro hovering around $1.4750

* Dollar/yen hovers above 8-month low of 88 yen

(Adds comment and quotes, updates prices)

By Jamie McGeever

LONDON, Oct 8 (Reuters) - The dollar weakened on Thursday after strong Australian jobs data sent the Australian dollar sharply higher and an upbeat U.S. corporate earnings report fuelled investor demand for higher risk and yield at the expense of the greenback.

Trading ranges in the European session were much narrower than they were in Asia, however, with dealers reluctant to take on too aggressive bets ahead of the European Central Bank and Bank of England policy decisions later in the day.

Australian data beat expectations for a fall in jobs in September, with 40,600 positions created instead, pushing the Aussie to a 14-month high against the U.S. currency as markets anticipated more interest rate hikes to come. [ID:nSYD431125]

U.S. aluminium producer Alcoa Inc (AA.N: Quote, Profile, Research, Stock Buzz) reported a surprise third quarter profit, which boosted overall bullishness about a global recovery. [ID:nN07320124] European stocks rose 1 percent and Wall Street futures pointed to a higher open too.

"The dollar looks like it will continue to fall as long as equities continue to hold or rally," said Maurice Pomery, managing director of Strategic Alpha in London.

"Treasury yields remain soft and in fact, lower levels could be seen," he said, noting the strong 10-year Treasury auction on Wednesday which drew solid demand from "indirect bidders", often thought to be foreign central banks.

At 0955 GMT the dollar index .DXY, a measure of the greenback against six major currencies, was down 0.7 percent on the day at 75.96, not far off its 2009 low set last month at 75.827.

The euro was up 0.6 percent against the greenback at $1.4770 EUR= and the dollar was down 0.4 percent against the yen at 88.30 yen JPY=.

Wednesday's eight-month low of 88.01 yen JPY= is the most immediate target, and a break below would bring January's 13-year low of 87.10 yen into view as traders test how far and fast Japan's Ministry of Finance will let the yen strengthen.

The biggest gainer was the Australian dollar, up 1.5 percent on the day to trade above $0.90 for the first time in 13 months AUD= and test options barriers at $0.9050.

EUROPEAN CENTRAL BANKS

On Tuesday, the Reserve Bank of Australia became the first central bank in the Group of 20 to raise its cash rate in this cycle. The move led to a general improvement in risk appetite and made leveraged carry trades even more attractive.

On the other hand, U.S. interest rates are set to remain anchored at record lows well into next year, making the dollar a possible funding currency for higher-yielding assets.

"The Aussie data was way above expectations ... and certainly backs up what they did this week," said Derek Halpenny, currency economist at BTM-UFJ in London, referring to the RBA's rate hike.

"Equity markets are up, and the general sentiment there is good after the Alcoa figures," he said, explaining that until U.S. interest rates and yields rise too, a backdrop of rising equities and risk appetite will be broadly dollar-negative.

Attention shifts to European interest rates now, with the ECB and BoE meetings. Both central banks are expected to keep rates at record lows of 1 and 0.5 percent, respectively, so the focus is what they say about their broader policy.

ECB President Jean-Claude Trichet might caution investors against high hopes of a speedy economic recovery. [ID:nL7664834]. There is also speculation that he might complain about the euro's strength.

British rates are expected to remain on hold, although markets will be keen to get some insight on its quantitative easing programme. [ID:nL7579384]

"The BoE, which has (rightly) welcomed sterling's (recent) slide, may resort to more guarded language as sterling is now the worst performing G10 currency, be it on a one-month or three-month horizon," Citigroup strategists said in a note.

"On the other hand, the ECB has recently appeared more apprehensive of euro strength/dollar weakness, but is unlikely to deviate from language used in the G7 statement and its belief in the U.S. 'strong dollar' policy," they added.

© Thomson Reuters 2009. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

 

Forex Trading News

Forex Research

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



Elevate Your Trading With The Amazing Trader!

The Amazing Trader includes:
  • Actionable trading levels delivered to YOUR charts in real-time.
  • Live trading strategy sessions.
  • Market Updates with Trading Tools.

Register To Test Your Amazing Trader


Trading Ideas for 11 December 2017

Register for the Amazing Trader

1.

Amazing Trader EVENT RISK Calendar:

Tue 12 Dec
09:30 GB- CPI
10:00 GB- ZEW Survey
13:30 US- PPI
Wed 13 Dec
00:30 AU- Employment
09:30 GB- Unemployment
13:30 US- CPI
15:30 US- EIA Crude
19:00 US- Fed Decision
Thu 14 Dec
07:30 CH- SNB Decision
All Day- Global- flash PMIs
12:00 GB- Bank of England Decision
12:45 EZ- ECB Decision
13:30 US- Retail Sales
13:30 US- Weekly Jobless
14:45 US- Industrial Production

Forex Trading Outlook


Potential Trading Opportunities

  • POTENTIAL PRICE RISK: Mediun Tue--10:00 GMT-- DE- ZEW. Second Tier Sentiment Survey
  • POTENTIAL PRICE RISK: HIGH-Medium Tue--13:30 GMT-- US- PPI

  • POTENTIAL PRICE RISK: HIGH-Medium Wed--09:30 GMT-- GB- Employment
  • POTENTIAL PRICE RISK: HIGH Wed--13:30 GMT-- US- CPI
  • POTENTIAL PRICE RISK: Medium Wed--15:30 GMT-- US- EIA Crude
  • POTENTIAL PRICE RISK: High Wed--19:00 GMT-- US- Fed Decision


  • POTENTIAL PRICE RISK: HIGH- Thu --00:30 GMT-- AU- Employment
  • POTENTIAL PRICE RISK: Medium- Thu --All day-- global- flash PMIs
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --07:30-- CH- Swiss National Bank Decision
  • POTENTIAL PRICE RISK: HIGH-Medium- Thu --09:30-- GB- Retail Sales
John M. Bland, MBA
co-founding Partner, Global-View.com EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




TRADER ADVOCACY ARTICLES

Trader's Advocate Articles..

pic

Retail Forex Brokerage Changing!

Are you looking for your first broker or do you need of a new one? There are more critical things to consider than you might have thought.

We were trading long before there were online brokers. Global-View has been directly involved with the industry since its infancy. We've seen everything and are up-to-data with recent regulatory changes.

Our Best Brokers listing section includes:Forex Broker Reviews, Forex Broker Directory, Forex Broker Comparisons and advice on How to Choose a Forex Broker

If would like guidance, advice, or have any concerns at all ASK US. We are here to help you.

SEE Our Best Brokers List

Currency Trading Tools

  • Live rates, currency news, fx charts. 

  • Research reports and currency forecasts.

  • Foreign Exchange database and history.

  • Weekly economic calendar.

Directory of  Forex trading tools

 
Terms of Use    Disclaimer    Privacy Policy    Contact    Site Map


Forex Forum
Forex Trading Forum
Forex Forum + forex rates
Forex Forum Archives
Forex Forum RSS
Free Registration

Trading Forums
Currency Forum Guide
Forum Directory
Open Forum
Futures Forum
Political Forum
Forex Brokers
Compare Forex Brokers
Forex Broker News
Forex Broker Hotline

Online Forex Trading
Forex Trading Tools
Currency Trading Tools
Forex Database
FX Chart Points
Risk/Carry Trade Chart Points
Economic Calendar
Quicklinks to Economic Data
Currency Futures Swaps
Fibonacci Calculator
Currency Futures Calculator

Forex Education
Forex Learning Center
FX Trading Basics Course
Forex Trading Course
Forex Trading Handbook

Forex Analysis
Forex Forecasts
Interest Rate Forecasts
Central Bank Forecasts

FX Charts and Quotes
Live FX Rates
Live Global Market Quotes
Live Forex Charts
US Dollar Index Chart
Global Chart Gallery
Daily Market Tracker
Forex News
Forex Blog
Forex News
Forex Blog Archives
Forex News RSS
Forex Services
Forex Products
GVI Forex
Free Trials
FX Bookstore
FX Jobs and Careers
Jobs USA
Jobs UK
Jobs Canada

Forex Forum

The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

Forex News

The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

Currency Trading

Currency trading charts are updated daily using the forex trading ranges posted in the Global-View forex database. You will also find technical indicators on the fx trading charts, e.g. moving averages for currencies such as the EURUSD. This is another forex trading tool provided by Global-View.com.

Forex Brokers

The forex database can be used to access high, low, close daily forex ranges for key currency pairs, such as the EURUSD, USDJPY, USDCHF, GBPUSD, USDCAD, AUD, NZD and major crosses, including EURJPY, EURGBP, EURCHF, GBPJPY, GBPCHF and CHFJPY. Data for these currency trading pairs dating back to January 1, 1999 can be downloaded to an Excel spreadsheet.

Forex Trading

Forex chart points are in a currency trading table that includes; latest fx tradinghigh-low-close range, Bollinger Bands, Fibonacci retracement levels, daily forex pivot points support and resistance levels, average daily forex range, MACD for the different currency trading pairs. You can look on the forex forum for updates when one of the fx trading tools is updated.

FX Trading

Global-View also offers a full fx trading chart gallery that includes fx pairs, such as the EURUSD, commodities, stocks and bonds. In a fx trading world where markets are integrated, the chart gallery is a valuable trading tool. Look for updates on the Forex Forum when the chart gallery is updated.

Forex Blog

Global-View.com also offers a forex blog, where articles of interest for currency trading are posted throughout the day. The forex blog articles come from outside sources, including forex brokers research as well as from the professionals at Global-View.com. This forex blog includes the Daily Forex View, Market Chatter and technical forex blog updates. In additional to its real time forex forum, there are also Member Forums available for more in depth forex trading discussions.

 

WARNING: FOREIGN EXCHANGE TRADING AND INVESTMENT IN DERIVATIVES CAN BE VERY SPECULATIVE AND MAY RESULT IN LOSSES AS WELL AS PROFITS. FOREIGN EXCHANGE AND DERIVATIVES TRADING IS NOT SUITABLE FOR MANY MEMBERS OF THE PUBLIC AND ONLY RISK CAPITAL SHOULD BE APPLIED. THE WEBSITE DOES NOT TAKE INTO ACCOUNT SPECIAL INVESTMENT GOALS, THE FINANCIAL SITUATION OR SPECIFIC REQUIREMENTS OF INDIVIDUAL USERS. YOU SHOULD CAREFULLY CONSIDER YOUR FINANCIAL SITUATION AND CONSULT YOUR FINANCIAL ADVISORS AS TO THE SUITABILITY TO YOUR SITUATION PRIOR TO MAKING ANY INVESTMENT OR ENTERING INTO ANY TRANSACTIONS.

Copyright ©1996-2014 Global-View. All Rights Reserved.
Hosting and Development by Blue 105